Asked by Conner Morgan on Jul 09, 2024
Verified
President Bush has seen the surpluses of 2001
A) increase to higher levels.
B) become massive deficits.
C) balance the budget.
D) reduce slightly.
Massive Deficits
Significantly large shortfalls where government expenditures exceed revenue.
Surpluses
Situations in which the quantity of a product or service supplied exceeds the quantity demanded, or when revenues exceed expenditures in a budget.
- Analyze the impact of historical economic policies and changes in budget surpluses or deficits.
Verified Answer
AP
Ashley PhillipsJul 14, 2024
Final Answer :
B
Explanation :
The surpluses of 2001 turned into massive deficits during President Bush's tenure, largely due to tax cuts, increased military spending, and other policy decisions.
Learning Objectives
- Analyze the impact of historical economic policies and changes in budget surpluses or deficits.
Related questions
When Government Expenditures in a Given Year Exceed Tax Receipts,there ...
If G = $800 Billion,tax Receipts = $850 Billion,and There ...
The Federal Budget Deficit Went Over $100 Billion for the ...
If the Government Increased Defense Spending by $1 Million and ...
The Budget of an Economy Is Said to Be in ...